Cerity Partners LLC Purchases 13,448 Shares of AppFolio, Inc. (NASDAQ:APPF)

Cerity Partners LLC grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 1,120.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,648 shares of the software maker’s stock after buying an additional 13,448 shares during the quarter. Cerity Partners LLC’s holdings in AppFolio were worth $3,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of APPF. Squarepoint Ops LLC boosted its holdings in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the period. Westwind Capital lifted its position in shares of AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after purchasing an additional 92,034 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of AppFolio in the second quarter worth about $12,993,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of AppFolio in the second quarter worth about $9,807,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler decreased their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. KeyCorp dropped their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Trading Down 0.4 %

Shares of NASDAQ:APPF opened at $253.75 on Friday. The company has a market capitalization of $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The business’s fifty day simple moving average is $224.84 and its 200-day simple moving average is $231.25.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Transactions at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the sale, the insider now directly owns 14,716 shares in the company, valued at approximately $3,444,279.80. This trade represents a 15.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,461 shares of company stock valued at $5,766,272 in the last 90 days. Insiders own 5.24% of the company’s stock.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.